(1) An application
under section 47 shall be accompanied by —
(a) the
prescribed fee; and
(b) a
deposit —
(i)
if the applicant has specified an amount that he would be
prepared to pay in respect of the grant of a licence to him on the
application, of 10% of that amount; or
(ii)
if the Minister has in the instrument by which
applications were invited stated an amount that the applicant will be required
to pay in respect of the grant of a licence, of 10% of that amount.
(2) Where a licence is
not granted on the application, the amount of the deposit shall, subject to
subsection (3), be refunded to the applicant.
(3) Where an applicant
on whom there has been served an instrument under section 49(1) does not
request the Minister, under section 49(6), to grant to him the licence
referred to in the instrument, the deposit shall not be refunded to the
applicant.
[Section 48 amended: No. 12 of 1990 s. 183; No. 42
of 2010 s. 103.]